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before August 1 of each year. M.S., Section 469.175, Subd. 5 also provides that an annual statement shall be published in a newspaper of general circulation in the City on or before August 15. If the City fails to make a disclosure or submit a report containing the information required by M.S., Section 469.175 Subd. 5 and Subd. 6, the Office of the State Auditor will direct the County Auditor to withhold the distribution of tax increment from the District. Subsection 2-24. Reasonable Expectations As required by the TIF Act, in establishing the District, the determination was made that the anticipated development would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the District permitted by the TIF Plan. In making said determination, reliance was placed upon written representation made by the developer(s) to such effects and upon City staff awareness of the feasibility of developing the project site(s) within the District. A comparative analysis of estimated market values both with and without establishment of the District and the use of tax increments was performed as described above. Such analysis is included in the original TIF Plan with modifications in Appendix A, and indicated that the increase in estimated market value of the proposed development (less the indicated subtractions) exceeded the estimated market value of the site absent the establishment of the District and the use of tax increments. Subsection 2-25. Other Limitations on the Use of Tax Increment 1.General Limitations. All revenue derived from tax increment shall be used in accordance with the TIF Plan. The revenues shall be used to finance, or otherwise pay the capital and administration costs of Development District No. 1 pursuant to M.S., Sections 469.124 to 469.134. Tax increments may not be used to circumvent existing levy limit law. No tax increment may be used for the acquisition, construction, renovation, operation, or maintenance of a building to be used primarily and regularly for conducting the business of a municipality, county, school district, or any other local unit of government or the state or federal government. This provision does not prohibit the use of revenues derived from tax increments for the construction or renovation of a parking structure. 2. Pooling Limitations. At least 75 percent of tax increments from the District must be expended on activities in the District or to pay bonds, to the extent that the proceeds of the bonds were used to finance activities within said district or to pay, or secure payment of, debt service on credit enhanced bonds. Not more than 25 percent of said tax increments may be expended, through a development fund or otherwise, on activities outside of the District except to pay, or secure payment of, debt service on credit enhanced bonds. For purposes of applying this restriction, all administrative expenses must be treated as if they were solely for activities outside of the District. In 2008 Session Laws (Chapter 366, Article 5, Section 24), the Minnesota Legislature allowed pooling from this district to TIF Districts #31 & #32 in the Northwest Quadrant (New Brighton Exchange). Subdivision. 1. Expenditures outside district. Notwithstanding the provisions of Minnesota Statutes sections 469.176, subdivision 4d, and 469.1763 subdivision 2, or any other law to the contrary, the city of New Brighton may expend increments generated from its tax increment financing districts 9, 20, and 26. The increments may be used to pay for eligible expenses as permitted by Minnesota City of New Brighton Modification to the Tax Increment Financing Plan for TIF District No. 26: Brighton Corporate Business Park III 2-12